CryptoZoo game promised a lot of crashes and burns, leaving disheartened investors with broken promises and useless NFT. Continuing the surprising theme, however, main dude Logan Paul comes to save the ailing project with a $2.3 million lifeline in the form of a buyback plan for select NFTs. Shrouded in the background is that Paul sues the three co-founders of this project on account he insinuated them to have embezzled money.
CryptoZoo was a game based on blockchain that promised to be an exciting project with unique NFTs, but it failed and never developed as planned. A 0.10 ETH refund or around $ 225 is now available to investors who possess Base Eggs and Base Animals NFT through a special website. Verification steps are present in the application process and the deadline for applying is February 8.
But not all NFTs are eligible for this olive branch. Additionally, accepting the refund comes with a caveat, waiving all rights to bring suit against Paul, thus creating a loophole for any future complaints.
Though the buyback presents slim hope, a project failure has caused major losses. Its associated ZOO token crashed more than 99.0% from its high, then plunging another 32%, following Paul’s statement.
Meanwhile, the legal drama unfolds. Paul’s lawsuit against CryptoZoo co-founders Jake Greenbaum and Eduardo Ibanez is for them stealing money that was supposed to be used on development.
This episode of CryptoZoo is rather bitter for many. Though the purchase offers some relief, unanswered questions about accountability and transparency persist. The upcoming legal battle is likely to provide further insights into what happened with the project and how remedies may be available for wronged investors. Only time will tell what the ultimate outcomes will be, but one thing is certain: CryptoZoo’s implosion is a stark reminder of the inherent risks in this nascent world of blockchain gaming and NFTs.
Also read:Sandbox Drives Engagement With Rewards, Contests amid Growth
